TFU | April 1-7

The SEC issued new guidance on digital assets, and also issued a no-action letter regarding digital token use; BNY Mellon and BlackRock partnered on a data sharing agreement; the FSB published a directory of global crypto-asset regulators; Affirm raised $300M in Series F funding; and JP Morgan CEO Jamie Dimon highlighted developments in AI, fintech, and China in his annual letter to shareholders.

BNY Mellon and BlackRock team up to share data. The bank and asset manager will integrate their customer data pools in hopes of jump-starting growth. BNY Mellon plans to deliver real-time information to the roughly 50 clients it shares with BlackRock Aladdin’s money manager system. The alliance is the first partnership to capitalize on the bank’s “open architecture” strategy.

One third of retail banks are planning digital brands. The results of an Economist Intelligence survey of global bank executives indicated that 33% of retail banks are looking to create their own digital banksto address competition from challenger banks and other fintech startups. The report also cites the importance of AI, machine learning, and Open Banking to global banks’ strategic thinking.